They are more volatile:  They increase in value percentage wise more than other classes in boom times, and decrease in value more in difficult times than other classes.I have owned four condos, two residential and two commercial, for more than 30 years and have no regrets.

Beyond basic numbers, how do you stress-test deals to make sure funding won’t become a problem?

If you have property in MO, I'd focus on building long term, trusting relationships there with professionals who have your best interest in mind so that when you do have an issue, they'll jump in and make it disappear so you can sleep at night.Sorry you are dealing with this- it's stressful and frustrating for sure, been there many times.

I wouldn't stress over things I could not substantiate.

Treat deals the same way you’d approach diagnostics - assume friction, stress-test assumptions, and see if the model survives conservative scenarios.That mindset tends to outperform optimism over time.Also, don’t underestimate the power of visibility here. 

The key is shifting from reacting month-to-month to having a clear plan for how the property supports, rather than stresses, your finances.

Near‑miss that taught you something—overly optimistic ARV, rate stress, or hidden rehab?

Underwriting has shifted to stress-test flat rents and rising expenses, especially in markets driven by real job growth.

A simple checkpoint I use is does the deal still hit a 1.25 DSCR at the refi under stressed rates and a higher exit cap, and is there enough reserves to survive the gap if not.Did they disclose the exact loan terms like LTV, IO period, extensions, and whether there was a rate cap in place, and what DSCR did it underwrite to at maturity day one?

Growth funded by hope usually shows up as stress six months later.• Systems before scale.